There’s all these brand-new cryptos is continuously flooding in…Sharespost Etoro… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly has to do with education so you if you discover the the extremely fundamentals here’s how bitcoin works and and we speak to a lot of again monetary consultants here’s simply how bitcoin works and when you understand bitcoin you comprehend things like blockchain technology you comprehend transparency and immutability and all those things and after that you start to enter what is the investment thesis behind bitcoin and that is 80 of the game right there 80 of comprehending these other crypto currencies comes from understanding how bitcoin functions then you enter that you understand all these brand-new tokens all these new cryptocurrencies some of them are literally just there to try to where they have no performance it’s just we hope
that the cost tomorrow is higher than the cost today that’s the only factor you’re entering into it which comes from education understanding and again going back to an investment thesis truthfully and saying i’m not going to purchase anything even if i saw some guy pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and discover what it is and discover where it fits for me um i you understand obviously have to do a great deal of research i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh every week i see a brand-new one being listed on some exchange and i’m and i go i have actually never even i can’t think i have actually never heard of that i get a big ego and i resemble how could i not have actually become aware of that however i have it and in some way it gets noted and there are probably lots of other individuals stating the same things about cryptos that i understand a lot about because i i tend to look at a great deal of defy stuff i tend to look a lot of those tokens so the the way i take a look at it is one there are a couple of ways one is i try to inform myself as much as possible and after that have an idea of what i like to find out about and like to purchase what do i like to buy do i like to buy the ones that have some sort of capital or liquidity protocol or something like that so understanding those i don’t like to buy some that are simply simply purely you know pumps like pump plans or something i understand a lot of people made money on shiba inu i understand a great deal of people earned money on dogecoin that’s excellent to hear i don’t want to do that that that’s not me i choose not to and i’m not telling anybody they ought to or they shouldn’t because there are a lot of individuals that have succeeded i choose not to do that one due to the fact that they’re they trade remember 24 7 365.
i don’t want to go to sleep one night and i’m up here and get up and i’m down here due to the fact that what will happen is i’ll never sleep again and again from a psychological viewpoint i do not want that i i try to learn quite a bit about the ones that i’m interested in or learn you know learn why i might be interested why they may have worth and truthfully male it simply takes a lot of education the other thing i’ll say about that genuine rapidly is you hear a lot of individuals who don’t comprehend a lot about crypto or or are actually versus it saying stating i do not comprehend how there can be all these cryptocurrencies one of them has to win but that’s that’s not the case they are all they they can or a number of them can exist on their own many of them are a currency that is for a specific network so bitcoin for example is the currency for the bitcoin network it’s the equivalent of the dollar is the currency for the united states financial network fine if eth is the currency of the ethereum network so there’s an entire network there and it has to have his own it it needs to have its own currency to work efficiently so it so if we feel and and look this this enters into a bit of a viewpoint i’m a big defy man i love decentralized finance and part of the reason is since i’ve remained in finance for so long and i know where the inadequacies are and i understand if we can take a few of those inadequacies out of the system and we can use blockchain technology to do it that would be terrific the thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain technology be truly efficient running on dollars working on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it efficient so there is to me not quite reality to the assertion that because there’s all these cryptocurrencies there’s a minimal amount of dollars that’s going to go into them so i got to determine which one’s going to be the winner it is going to once again in my opinion start to begin to engulf the standard financial system and i don’t suggest that whatever else is going to disappear i suggest my feeling is banks and the crypto that the procedures and whatever are going to begin interacting they’re going to begin incorporating together which’s where you’re visiting a good deal of this value so there’s so much money in the conventional financing system that’s going to make its method into what we presently call the crypto system or the
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Defi system and eventually it’s just going to be called the financial system because it’s just a it’s basically a database in a network you get informed and once again once you get informed have a financial investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar exclusively transmitted for etoro us club members our webinars let members straight connect with our guests using a q a and any person or you can sign up with etoro club and u.s club members get a bunch of advantages such as an etoro swag bag unique access to our monthly webinars quarterly market reports and a devoted account manager if you join our greater tiers you can likewise get things like a membership of the wall street journal delta pro and special invites to irl yes real life etoro occasions be sure to check out the description for any marketing deals and for more information about our amazing guests i’ll see you in etoro us’s club Sharespost Etoro.